Pair is likely to find support around 1.23 handle so this would be our short-term buying point and resistance above 1.2430 level so this is where we would consider selling the pair. In long-term trends, we believe that pair will head towards 1.2150 level, initially and then perhaps 1.2050 level, given enough time.
Last modified on Wednesday, 17 December 2014EUR/USD Daily Forecast - 18 December
There were no major data releases from Eurozone, so it was a steadier European part of the session, while US session brought decline to euro ahead FOMC interest rate decision and the following statement. After it was released pair went back and forth with a daily closing around 1.2360 level. Tomorrow, we expect a bit steadier session, with some impact coming from Business Climate figures, but markets will probably still be weighing on FOMC statement.
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